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Saturday, May 12, 2018

Apple leaves overseas cash out of its latest quarterly report

Effect of the Jan. 1 tax changes...

The tax regime signed into law in December by President Donald Trump requires American-based companies to pay tax on money they’ve stashed outside the U.S. The new rules set a one-time rate of 15.5 percent on cash and 8 percent on non-cash or illiquid assets. Payments can be made over eight years. Previously, companies had to pay 35 percent, but only if they brought the money back to the U.S.